Friday, Mar 24 2023 | Time 10:58 Hrs(IST)
Business Economy

IndiaMART to expand footprint in 4 new cities in TN

Chennai, Jan 25 (UNI) IndiaMART InterMESH Limited, India’s largest
B2B online marketplace, today announced that it will expand its footprint
further in Tamil Nadu with four offices in the State.
The new offices will be set up in Kanchipuram, Pondicherry, Tirunelveli
and Vellore, to cater to the growing demand in the state on its platform.
Alongside, the company will hire local people on their payroll for operation
of the new offices in the state. Besides, it will establish a customer service
team in Chennai for assisting customers in the vernacular language.
All these major announcements came at a conference which was held to
address the difficulties faced by MSMEs which are based in Tamil Nadu
and the strategic approach taken by the company to mitigate those very
Speaking at the conference, Company COO Dinesh Gulati said IndiaMART
has a strong presence in Tamil Nadu, it ranks 3rd in terms of total web-traffic
on the platform.
"What we have seen is that, owing to the recent construction projects
initiated by the government, most of IndiaMART customers in Tamil Nadu
are from the construction and real estate sectors. To cater to this growing
market, we have already established 13 channel partners and 6 branch
offices across the state including Chennai, Coimbatore, Madurai, Salem,
Erode, Tiruchirappalli and Tiruppur and we plan to expand its footprint in
the emerging markets”, he added.
IndiaMart Intermesh Ltd reported a 61% rise in its consolidated net profit
to Rs 112.8 crore for the 3rd Quarter ended December 31, 2022. It reported
a consolidated profit of Rs 70.2 crore in the October-December quarter a
year ago.
As per data, Its consolidated revenue from operations in the third quarter
rose 33.65% to Rs 251.4 crore against Rs 188.1 crore in the corresponding
period of the previous year.
UNI GV 1638
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